3 reasons entrepreneurs fail to plan

Studies show that a written business plan can boost a new company's chances for survival, Scott A. Shane writes, yet many entrepreneurs never get around to this key step. Shane explores three reasons why entrepreneurs might avoid creating a business plan, including what he calls the "Just Do It theory." Entrepreneurs tend to be action-oriented, he notes, so the planning stage gets "skipped by those in a hurry to get their dreams under way."